Honda CB350 Road Racer FAQ, Ignition Modifications Page

Chris Marshall, Ignition modifications use a Dyna ignition I built myself, similar to the Barker Sparker. It is mounted on a plate where the alternator mechanism used to be. Its uses a fixed advance of 40 BTDC. I use Dyna coils (3 ohm) and recommend Nology Spark Plug wires. They are expensive but produce a beautiful spark.
Hoyt McKagen, Cam mounted ignition is immune to crank whip which can seriously affect timing and even make good tuners cry. The stock points system is OK to 12,000 RPM. The traditional K-Mart cheapo universal coil makes sparks like you wouldn't believe. A special rig is in development for the crank-mounteds to eliminate whip effects, uses its own bearings and a slop-free driver. Ball-bearing camshaft conversion frees up ~.5 Hp.
Chris Ford, I used stock Honda coils with a "constant loss" system. This is a system that removes all of the bikes electrical paraphenalia, ie starter motor, wiring, etc (saves about 17 pounds), and relies on a fully charged wet cell battery to run the ignition while you race. The down side is that you have to recharge the battery a lot. Still, it's the simplest system around, and it works. Ask Hoyt.
Buff Harsh, The Dyna S seems to have been a good choice, but it's life is limited in the hot crancase oil. The Dyna III is also used by some with success, but I like the simplicity of the S. It runs off the crank and hooks easily up the coils.